VIBRANT SECURITIES PRIVATE LIMITED Vs. INCOME-TAX OFFCER

JUDGEMENT

(1.) The petitioner challenges the notice under Sec. 148 of the Income Tax Act, 1961 ('the Act') dated 31st Mach 2021 for the assessment year 2014-15 seeking to reopen the assessment for the said year on the ground that the Assessing Offcer had reasons to believe that income chargeable to tax for the assessment year 2014-15 had escaped assessment within the meaning of Sec. 147 of the Act. The petitioner also challenges the order dtd. 8/2/2022 rejecting the objections of the petitioner to the validity of the notice under Sec. 148 of the Act.

(2.) Briefy stated the material facts are as under :

(3.) By virtue of notice under Sec. 142(1) of the Act, dtd. 7/11/2016, the petitioner was asked to inter-alia fle the following details :